The U.K.-approved merger will go into effect October 19, according to the companies.
With the approved transaction, each Sorin share will be converted to 0.0472 ordinary shares of $1.52 ( UK£1.00) nominal value in share capital of LivaNova, and Cyberonics shareholders will receive 1 ordinary share of the same value of LivaNova for each share in Cyberonics, according to the companies.
The news has sent Cyberonics stocks down roughly 2% to $67.80 in mid-day trading.
In May, Sorin and Cyberonics shareholders approved a merger of the companies and the companies announced the management roster for the new entity, which is united the global leaders in neuromodulation and cardiac surgery with a combined equity value of $2.7 billion.
The merger won approval from U.S. anti-trust regulators in April. Sorin’s sales account for more than 60% of the combined entity’s total sales. Cyberonics had around $290 million in 2014 revenues, 1 production facilities and 650 employees, compared to Sorin’s sales of nearly $1 billion, 10 manufacturing sites and 3,900 workers.